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llinc57 Station Master

http://www.theage.com.au/business/corrigan-sails-high-on-the-winds-of-growth-initiatives-20110306-1bjji.html

it would be interesting to see if these acquisitions have a rail siding?

if that is the case it would be win situation for them if the business has stock that needs carting to interstate capitals.

 
bingley hall Minister for Railways

Location: On a freight train to crazy town

Qube to acquire DP World’s Shareholding in P&O Trans Australia

Qube Logistics (Qube) today announced that it will increase its shareholding in POTA Holdings Limited (POTA) to approximately 94.5% through the exercise of call and put options with DP World (POSN) Pty

Limited (DP World), the other major shareholder in POTA. The total amount payable in respect of the exercise of the call and the put options will be $106 million which includes the purchase of DP World’s shares and related loans.

POTA is the business that forms Qube’s Landside Logistics division. This business, which operates under the trading name P&O Trans Australia, provides a comprehensive range of logistics solutions on a national basis focussed on the import / export supply chain for containerised cargo.

These services include road and rail transport to and from the port, operation of full and empty container parks, customs and quarantine services, warehousing and distribution, intermodal terminals and international freight forwarding.

Chris Corrigan, Chairman of Qube’s Investment Advisory Committee, said “Qube is very pleased to move to outright control and majority ownership. We believe that there are substantial growth opportunities for this business, particularly relating to increasing use of rail transport for container movements to and from the ports”.

As previously disclosed, the consideration payable to DP World for its shares was determined by applying a formula to calculate the exercise price for the call and put options that was agreed to when Qube made

its initial investment in April 2007. The enterprise valuation for POTA for this formula was based on seven times normalised earnings (EBITDA) for the year ending 31 December 2010.

Sam Kaplan, Managing Director of Kaplan Funds Management, the manager of Qube, said “The price paid by Qube for the additional POTA shareholding represents an attractive multiple of historical earnings

and the acquisition is expected to be earnings accretive for Qube in the first year”.

Following the completion of the transaction, Qube will own around 94.5% of POTA, with management owning approximately 5.5%. The transaction is expected to be completed by the end of April 2011.

Qube will fund the payment to DP World from its existing cash. Following the completion of the transaction, Qube will have cash and equivalents of around $70 million to fund further investments in its existing businesses and for new investments.

This announcement has been prepared and released on behalf of Qube Logistics by Kaplan Funds Management, the manager of Qube Logistics.

http://www.qubelogistics.com.au/files/18_04_11_09_06_24_Final_POTA_Announcement_Call_Put_Exercise.pdf

 
seb2351 Chief Commissioner

Location: Adelaide

So, if I follow this correctly...

Corrigan, who used to be a shareholder in Pacific National, is now a shareholder in a new rail company called Qube and has just bought the port handler currently serviced by PN?

What happened to make Corrigan leave (I think it was Toll, who was the owner of Asciano) in the first place?

 
bingley hall Minister for Railways

Location: On a freight train to crazy town

So, if I follow this correctly...

Corrigan, who used to be a shareholder in Pacific National, is now a shareholder in a new rail company called Qube and has just bought the port handler currently serviced by PN?

What happened to make Corrigan leave (I think it was Toll, who was the owner of Asciano) in the first place?

- seb2351



Corrigan owned Patrick who were 50/50 owners of PN with Toll.

Toll initiated a hostile takeover of Patrick which saw Corrigan depart.

Asciano - including PN and parts of the Patrick business - was spun off from the Toll group to satisfy ACCC concerns. It was never owned as such by Toll.

Despite what the conspiracy theorists would like to believe, Asciano is a stand alone company with no direct links to Toll.

 
seb2351 Chief Commissioner

Location: Adelaide

So, if I follow this correctly...

Corrigan, who used to be a shareholder in Pacific National, is now a shareholder in a new rail company called Qube and has just bought the port handler currently serviced by PN?

What happened to make Corrigan leave (I think it was Toll, who was the owner of Asciano) in the first place?

- seb2351



Corrigan owned Patrick who were 50/50 owners of PN with Toll.

Toll initiated a hostile takeover of Patrick which saw Corrigan depart.

Asciano - including PN and parts of the Patrick business - was spun off from the Toll group to satisfy ACCC concerns. It was never owned as such by Toll.

Despite what the conspiracy theorists would like to believe, Asciano is a stand alone company with no direct links to Toll.

- bingley hall

That makes much more sense, thanks Bingley Hall.

 
cuthbert Train Controller

Qube to acquire DP World’s Shareholding in P&O Trans Australia Qube Logistics (Qube) today announced that it will increase its shareholding in POTA Holdings Limited (POTA) to approximately 94.5%

- bingley hall



The renaming of everything from POTA/P&O to QUBE is well underway now! New stickers and signs going up everywhere now.

 
LLVR Chief Train Controller

Location: 303.3

1st March was change over date.

 
ozfreight Chief Train Controller

Location: hawthorn 3122

Annouced today that Qube has acquired the assets of Westgate Ports for $47 million dollars. It includes the vital port facility at Victoria dock and leases at both Lyndhurst and Altona future intermodal terminals. Qube intends to provide rail services between these facilities as well as their own terminal in Somerton.
Westgate has requested provision of a broad gauge connection at their Altona terminal as they intend to run shuttle trains between Altona and Lyndhurst (they do not anticipate SG to Lyndhurst anytime soon and neither do I.


Edward

 
VRfan - Moderator Moderator

Location: In front of my computer :-p

Annouced today that Qube has acquired the assets of Westgate Ports for $47 million dollars. It includes the vital port facility at Victoria dock and leases at both Lyndhurst and Altona future intermodal terminals. Qube intends to provide rail services between these facilities as well as their own terminal in Somerton.
Westgate has requested provision of a broad gauge connection at their Altona terminal as they intend to run shuttle trains between Altona and Lyndhurst (they do not anticipate SG to Lyndhurst anytime soon and neither do I.


Edward

- ozfreight



I'm assuming the idea is that trucks from the east drop off/pick up containers at the Lyndhurst terminal, these are then railed to Altona and then forwarded on via BG or SG trains to other destinations?

 
ozfreight Chief Train Controller

Location: hawthorn 3122

Annouced today that Qube has acquired the assets of Westgate Ports for $47 million dollars. It includes the vital port facility at Victoria dock and leases at both Lyndhurst and Altona future intermodal terminals. Qube intends to provide rail services between these facilities as well as their own terminal in Somerton.
Westgate has requested provision of a broad gauge connection at their Altona terminal as they intend to run shuttle trains between Altona and Lyndhurst (they do not anticipate SG to Lyndhurst anytime soon and neither do I.


Edward

- ozfreight



I'm assuming the idea is that trucks from the east drop off/pick up containers at the Lyndhurst terminal, these are then railed to Altona and then forwarded on via BG or SG trains to other destinations?

- VRfan




The Qube Logistics website doesn't specify but I too assume that it's the idea. 


Edward

 
ozfreight Chief Train Controller

Location: hawthorn 3122

Annouced today that Qube has acquired the assets of Westgate Ports for $47 million dollars. It includes the vital port facility at Victoria dock and leases at both Lyndhurst and Altona future intermodal terminals. Qube intends to provide rail services between these facilities as well as their own terminal in Somerton.
Westgate has requested provision of a broad gauge connection at their Altona terminal as they intend to run shuttle trains between Altona and Lyndhurst (they do not anticipate SG to Lyndhurst anytime soon and neither do I.


Edward

- ozfreight



I'm assuming the idea is that trucks from the east drop off/pick up containers at the Lyndhurst terminal, these are then railed to Altona and then forwarded on via BG or SG trains to other destinations?

- VRfan




The Qube Logistics website doesn't specify but I too assume that it's the idea. 


Edward

- ozfreight




How long will PN provide hook and pull services to the paper traffic between Maryvale and Victoria Dock since both terminals are now owned by Qube ?

 
djukinX1016 Deputy Commissioner

Qube have also bought Giacci Bulk Haulage who operate in W.A., SA & NT, to put this in perspective Giacci manage the handling of around 17 million tonnes of product a year:


http://www.giacci.com.au

Regards
Phil

 
newportfitter Station Staff

Location: gough's bay

Annouced today that Qube has acquired the assets of Westgate Ports for $47 million dollars. It includes the vital port facility at Victoria dock and leases at both Lyndhurst and Altona future intermodal terminals.
Edward

- ozfreight


they have had a round of redundancies at westgate ports according to a mate who works there.

 
LLVR Chief Train Controller

Location: 303.3

Qube putting own blokes in there.

 
speedemon08 Chief Commissioner

Location: I think by now you should have figured it out

It appears that Qube have lost the Horsham contract to SCT

 
phower Chief Commissioner

Location: Over on Kangaroo Island Sth Aust

It appears that Qube have lost the Horsham contract to SCT

- speedemon08



That would be correct indeed !!

 
speedemon08 Chief Commissioner

Location: I think by now you should have figured it out

It appears that Qube have lost the Horsham contract to SCT

- speedemon08



That would be correct indeed !!

- phower



But whats reportedly happening with the motive power is interesting..... 


The S is going to Sydney, one of the 80's will stay and Gargamel (aka GML10) will go to Adelaide for works trains then to Goulburn for final fit outs, big possibility it will be coming back to Victoria though...
- A user

 
Raichase Minister for Railways

Location: Sydney, NSW

Oh dear, the S is coming back to NSW? No doubt that will make us popular  Rolling Eyes.

 
phower Chief Commissioner

Location: Over on Kangaroo Island Sth Aust

It appears that Qube have lost the Horsham contract to SCT

- speedemon08



That would be correct indeed !!

- phower



But whats reportedly happening with the motive power is interesting..... 


The S is going to Sydney, one of the 80's will stay and Gargamel (aka GML10) will go to Adelaide for works trains then to Goulburn for final fit outs, big possibility it will be coming back to Victoria though...
- A user


- speedemon08



From what I have heard  SCT (SBR) have the contract as from the 30 th April , but will only be using one NEW loco only ,  as it has been using ,for the trials of late ,Then 006 will return to Adelaide  and be replaced  due to it requires a service .. the rest I do not have a clue ...

But does the "S" not belong to CFCLA, if so who is it going to  ??  so in fact all that is going to be lost is  One loco , so to speak !! but what is the final fit out  entail ?? I was of the opinion  that has been happening !! but I could be incorrect .and happy to be corrected.

 
speedemon08 Chief Commissioner

Location: I think by now you should have figured it out

Oh dear, the S is coming back to NSW? No doubt that will make us popular  Rolling Eyes.

- Raichase



S311 was only meant to be on it for 6 weeks originally in the 1st place. I'm sure a few vic based gunzels got it in that time Period originally, me included.

 
Raichase Minister for Railways

Location: Sydney, NSW

Oh dear, the S is coming back to NSW? No doubt that will make us popular  Rolling Eyes.

- Raichase



S311 was only meant to be on it for 6 weeks originally in the 1st place. I'm sure a few vic based gunzels got it in that time Period originally, me included.

- speedemon08



I think you misunderstood me - it was a light-hearted comment directed at the commonly held idea that some Victorian enthusiasts feel that they have the "right" that Victorian locomotives should remain in Victoria Wink

 
LLVR Chief Train Controller

Location: 303.3

Finally announced today QUBE has purchased Independant Rail.

 
seb2351 Chief Commissioner

Location: Adelaide

Finally announced today QUBE has purchased Independant Rail.

- LLVR



Without doubting you, does anyone have a link to a news article or similar stating this? It would be interesting to see whether Qube has announced its intentions behind the purchase


EDIT: Never mind, I found it!

http://www.qube.com.au/files/07_06_12_05_43_00_Qube_expands_regional_rail_capacity.pdf


ASX and Media Announcement
Qube expands regional rail capacity
Qube Logistics Holdings Limited (“Qube”) today announced that it has entered into an
agreement to acquire 100% of the shares of Macarthur Intermodal Shipping Terminal Pty Ltd
(MIST) which, together with its wholly owned operating subsidiaries, Independent Railways
of Australia Pty Ltd and Independent Railroad of Australia Pty Ltd, trades as Independent
Transport Group (ITG).
As part of the transaction, Qube will also acquire the freehold property at Minto in New South
Wales upon which ITG operates its rail terminal and warehousing.
The total consideration payable for the acquisition of MIST and property is approximately
$95 million
1
which will be funded from Qube’s new syndicated debt facility. The acquisition is
expected to be earnings per share accretive in its first full year of operation.
Qube’s Managing Director Maurice James said, “The transaction is an important element in
Qube’s expansion into the provision of logistics solutions for rural commodities”.
ITG has existing contractual arrangements for the movement of grains and malt by rail from
regional New South Wales to the Macarthur Intermodal Shipping Terminal for export
through Port Botany.
“Qube believes there is significant potential to build on these relationships to provide
competitive, efficient logistics supply chain solutions for major grain companies” Mr James
said.
The ITG business will be integrated into Qube’s Logistics division in order to maximise cost
synergies and deliver the optimal logistics solution for Qube’s customers. The acquisition will
expand Qube’s rail fleet to approximately 80 locomotives and 800 wagons.
Completion of the acquisition is subject to there being no regulatory intervention. It is
presently expected that the transaction will be completed by the end of July 2012.
- A user
 
cuthbert Train Controller

This is all great news - PUBE taking on PN with all those Vintage main line locos. Reliability must come into question! Do stake-holders have any idea?

I still can't understand how the ACCC allows PUBE to Operate their own trains in direct competition to PN and be the sole company directly charged with loading/unloading Containers for PN's interstate trains at Acacia Ridge! If PUBE trains ever start working the SG to ACR, then what then?

 
bingley hall Minister for Railways

Location: On a freight train to crazy town

This is all great news - PUBE taking on PN with all those Vintage main line locos. Reliability must come into question! Do stake-holders have any idea?

I still can't understand how the ACCC allows PUBE to Operate their own trains in direct competition to PN and be the sole company directly charged with loading/unloading Containers for PN's interstate trains at Acacia Ridge! If PUBE trains ever start working the SG to ACR, then what then?

- cuthbert


You ask if the stakeholders have any idea, yet it is quite clear from the above that you have NFI.

 

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